Duco, the data engineering technology company, today announced the
completion of a $28m investment round by Insight Venture Partners, NEX
Opportunities and Eight Roads Ventures. The round also includes an
investment by lifetime entrepreneur and former CEO of SunGard, Cristóbal
Conde.

Duco
provides technology that enables banks, brokers, asset managers and
exchanges to normalise, validate and reconcile any type of data in
Duco’s cloud, providing firms with on-demand data integrity and insight.
The company has seen rapid and global growth as the industry
re-platforms, adopting advances in leading technology to eliminate
operational risk and cost and making actionable data more immediately
available across the enterprise. Duco will use the investment to expand
its global footprint, with headcount growth in Europe and the US, the
launch of an Asia office and an expansion of its award-winning product
set.

Christian Nentwich, CEO of Duco, said, “Duco’s approach to solving
complex data problems in financial services is to empower experts with
self-service solutions. We have gained considerable traction as the
industry looks for intelligent answers to evolving new market realities.
Our clients have engaged us globally at a strategic level and are
relying on our proven ability to deliver at scale. This investment
enables us to push further in applying our natural background in
Computer Science to solving fundamental industry problems, while
strengthening our resources to deepen relationships with our existing
client base.”

Peter Sobiloff, Managing Director, Insight Venture Partners, said,
“Insight Venture Partners tracks many companies, but few stand out. Duco
is one of the few. The company has already demonstrated tremendous
growth, and we are looking forward to scaling that growth to the next
level. We are impressed by the management team’s ability to deliver
tangible impact in a challenging and complex business-to-business
environment while amassing an impressive global client list with high
customer satisfaction levels and retention rates. Insight is looking
forward to working with the Duco team.”

Michael Spencer, CEO of NEX, said, “The evolution of the post-trade
environment in financial services requires fundamental changes in market
structure, processes and technology. In areas such as data, a deeper and
more technical level of innovation has been required and this is exactly
where Duco are the industry’s pioneers. NEX has supported the firm from
its conception and we are thrilled, but not surprised, to see its
substantial progress.”

Cristobal Conde said, “I am delighted to be deepening my relationship
with Duco at this important inflection point for the company. Reconciliation
in financial services, and particularly in banks and large asset
managers, is an area that requires a shake-up and re-engineering in the
coming years. Duco is focused on bringing technological advancements to
market in an industry that is ripe for disruption. The company is taking
significant market share and will emerge as a household name in the
coming years.”

About Duco

Duco provides self-service data engineering in the cloud. We empower
users to normalize, validate and reconcile any type of data on demand.
New clients are live in 24 hours, with results in 7 days and tangible
business value in 30 days. Our customers include international banks,
brokers, exchanges, asset managers, hedge funds, administrators, service
providers and corporates. Headquartered in London, with offices in New
York and Luxembourg, Duco serves clients throughout Europe, North
America, Africa, Asia, and Australasia. For more information go to https://du.co

About Insight Venture Partners

Insight Venture Partners is a leading global venture capital and private
equity firm investing in high-growth technology and software companies
that are driving transformative change in their industries. Founded in
1995, Insight has raised more than $18 billion and invested in over 300
companies worldwide. Our mission is to find, fund and work successfully
with visionary executives, providing them with practical, hands-on
growth expertise to foster long-term success. Across our people and our
portfolio, we encourage a culture around a core belief: growth equals
opportunity. For more information on Insight and all its investments,
visit www.insightpartners.com
or follow us on Twitter @insightpartners.

Eight Roads Ventures is a global venture capital firm with more than 40
investments in the FinTech space. Together with associated funds it
manages $3.6Bn of capital across offices in the UK, India, Japan, China
and the US. Eight Roads has a near 50-year history of investing, that
includes partnerships with companies such as Alibaba, Ant Financial,
Appsflyer, China PnR, Compte Nickel, Curam, Future Advisor, Kensho,
InnoGames, iPipeline, Letgo, Made.com, Neo4j, Nuance, Ping Identity,
Prosper, Recurly, Wuxi Pharmatech, Xoom.

About Cristóbal Conde

Cristóbal is the former President and CEO of SunGard. He spent 24 years
at the firm, growing SunGard into a Fortune 500 Company and the largest
privately held software and services company in the world, employing
over 26,000 staff. Prior to President and CEO, Cristóbal held various
senior roles at Sungard including Executive Vice President and COO.